Dear Editor,
I was pleased to hear that Senators on the Health, Education, Labor and Pensions Committee are meeting next week to investigate Pharmacy Benefit Managers, who are also known as PBMs.
As the hearing convenes, I am hopeful that Ranking Member and Louisiana Senator Bill Cassidy will lead committee members to draft and pass meaningful solutions to the problems that PBMs create for so many patients and their families.
PBMs control nearly 80% of the prescription medication market, and due to their current lack of oversight and regulation from the federal government, they have gotten away with shortchanging patients on medicine discounts that could help lower out of pocket costs. Additionally, PBMs are compensated based on the sale price of the prescription drug, further incentivizing their own profits over the needs of patients.
It is time Senator Cassidy to give PBMs a reality check and reign in their selfish practices.
Louisianans are counting on it.
Sincerely,
Amy Christina - Baton Rouge, LA